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NPA Weekly NewsBrief
March 3, 2009  
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Famed Photographer Annie Leibovitz Pawns Life’s Work to Pay Off Debts
from The New York Times
Last fall, Annie Leibovitz, the photographer, borrowed $5 million from a company called Art Capital Group. In December, she borrowed $10.5 million more from the same firm. As collateral, among other items, she used town houses she owns in Greenwich Village, a country house, and something else: the rights to all of her photographs. In other words, according to loan documents filed with the city, one of the world’s most successful photographers essentially pawned every snap of the shutter she had made or will make until the loans are paid off. More

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Pawnshops Seeing More Personal, Family Items Gone to Hock
from KESQ-TV
Chris Altair is no stranger to pawnshops in Palm Desert, Calif. He's bought things from them before. But he never thought he would have to pawn something much less his father's gold watch. "I still plan on keeping it, which is why I only pawned it. I didn't sell it," Altair said. "But with the economy the way it is today, I needed some extra money and I had to do this." More

In Recession, Pawnshops Fill Up on Jewelry, Tools ‒ and Stories
from The Orlando Sentinel
Twenty years ago, Trent Dale jumped out of an airplane to earn a nickel-sized military pendant of 14-karat gold. One recent day, he walked into an Orlando pawnshop and traded it for $20 cash. "That's gas money that'll get me up to see my son," said Dale, an Army veteran from Orlando with a barrel chest and imposing biceps. "You want to hang on to mementos, but life goes on." More

Pawnshops Popular During Tough Times
from WNDU-TV
Although most of the retail industry is struggling, there is one group of stores that is doing well ‒ pawnshops. At Ozark's Pawn Shop on South Bend's west side in Indiana, the owner says sales have been strong the past few months. Many customers are pawning items instead of buying or selling them to get some quick cash. More

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U.S. Jobless Claims Up and Continued Claims at Record
from Reuters via MSN Money
The number of U.S. workers continuing to claim jobless benefits notched a fresh record in the second week of February, Labor Department data showed last week, while new claims for aid were the highest since 1982. The number of people remaining on the benefits roll after drawing an initial week of assistance increased by 114,000 to a 5.112 million in the week ended Feb. 14, the most recent week for which data is available. The so-called continued claims topped every estimate in a Reuters' poll of 15 economists, which had a consensus forecast of 5.00 million. More

Pawnshops Are Thriving
from Zanesville Times Recorder
As people continue to struggle in the poor economic times, one business that has remained a constant presence and is thriving is the pawnshop. Now more than ever, people are hoping to cash in on some of their old or unwanted possessions. That's what Tom Mentz, manager of M&M Pawn and Jewelry in Zanesville, Ohio, has noticed. More

Cramer Warns on Gold Scams
from Walletpop Blog
With the economy in decline, and the price of gold above $960 per ounce on Feb. 25, demand for gold is on the rise. It's a big topic these days and one I'm focusing on more and more on Mad Money. So I’m going to spend the next few days here talking about the gold market; how to buy gold, where your best options lie, and how to avoid scams when trading in gold. More

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People Turn to Pawnshops for Help
from KFVS-TV
In tough times, everyone is looking for ways to find what they want or need for less. That’s causing people to turn to pawnshops to get some secondhand deals, or even get a little bit of money to pay some bills. More

Customer Service, Friendly People Set the Vault Apart
from the Beaconcast
There’s a reason the newest pawnshop in Roswell, Ga. is called The Vault. Located on Highway 9, the store occupies what once was a Wachovia Bank, information that may not sound too fascinating at first. However, once inside the giant store, you’ll notice that Wachovia left something behind – a giant bank vault. More

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People Use Pawnshops as ATMs in Hard Times
from The Dayton Daily News
With the economy struggling, local pawnshop owners say they're seeing new faces in their stores, whether it's a person who lost a job or someone trying to stretch their money a little further. "We had a lady come in yesterday who borrowed $1,500 on two jewelry items, and she said she needed to make the payment on her Mercedes," said Ric Blum, vice president of Ohio Loan Co. in Dayton, Ohio. More

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